Aneka Tambang (ANTM) – Under Review
Price: Rp2,250 – Target Price: Under Review
Outstanding 4Q10 Performance
- ANTM FY10 earnings jumped significantly by 178% YoY, while revenue was flat with only 0.4% YoY growth.
- Outstanding 4Q10 performance with revenue and earnings surged by 113% and 277% QoQ, respectively.
- The FY10 revenue figure came in-line within our expectation while net profit surpassed our expectation.
- Significant jump in net profit was mainly due to lower COGS as a result from reduced metal trading activities.
- We are currently reviewing the possible impact towards ANTM from Japan as well as future coal contribution. Under Review